News Releases

RBC Capital Markets named U.S. Mid-Market Investment Bank
of the year by IDD

Award underscores firm's continued rise in the U.S. and internationally

NEW YORK, January 29, 2009 — RBC Capital Markets
today announced that its U.S. investment banking group has
been named Mid-Market Investment Bank of the Year by Investment
Dealers' Digest (IDD), a leading journal of the investment
banking industry.

"We're deeply honored to be recognized by IDD
as 'Mid-Market Investment Bank of the Year,' one of the investment
banking industry's most respected awards," said Peter
de Vos, RBC Capital Markets' Head of U.S. Investment Banking.
"As the largest and one of the only investment banks
with full-product capability primarily focused on the U.S.
middle market, RBC has been uniquely positioned to provide
services that are relevant to our clients in all market environments.
That breadth of capability has helped us to serve our clients
year after year, even in the most challenging markets."

RBC launched its current U.S. investment banking plan in
2002, and offers a complete line of products and capabilities
to corporate, institutional and government clients. The firm
has a focused expertise in sectors such as Communications,
Media & Entertainment, Consumer, Financial Institutions,
Energy, Healthcare, Industrial & Diversified Services,
Real Estate, and Technology. RBC's range of product capabilities
includes M&A, private placements, leveraged finance, financial
sponsors, convertibles, high yield, and equity capital markets,
among others.

"RBC Capital Markets' investment banking business is
strengthened by the Royal Bank of Canada's size and stability:
RBC is the 12th largest bank in the world, and one of only
two banks with an Aaa rating (from Moody's) among the 50 largest
banks globally," said Doug Guzman, RBC Capital Markets'
Head of Global Investment Banking. "This has allowed
us to continue to grow our U.S. business in a measured fashion.
In 2008, we were able to gain market share across product
areas, add new clients and continue to selectively recruit
and grow our U.S. investment banking and capital markets platforms."

About RBC Capital Markets
RBC Capital Markets is the corporate and investment banking
arm of RBC and is active globally in debt origination, sales
and trading, foreign exchange, infrastructure finance, structured
products, metals and mining, and energy. Its North American
platform includes a significant U.S. middle market investment
banking franchise and leading equity, underwriting, sales,
trading and research businesses. Bloomberg ranks the firm
as the 12th largest investment bank globally.